Good Deal or Not? “Warmth & Quality” edition

This home is located at 1318 G St, NE:

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The flier says:

“FIVE STAR PROPERTY! Warmth & Quality Abound on Capitol Hill! Refreshingly Open Floor Plan * 3 FIN Levels * Formal LR & DR * Gleaming HDWD’s * True Chef’s KIT * Top-Of-The-Line Appliances * Updated Bath * Finished LL FR * Great Storage * Workshop * CAC * Fully Restored Moldings, Windows, & Staircase * Private Rear Garden *”

You can find more info here and photos here.

Does $624,500 sound reasonable for this 3 bed/2 bath?

56 Comment

  • If I had the dough, I’d buy it. What a nice house!

  • I do not get the price inflation in that area, at all, but that’s a nice house.

  • Yeah. Im confused. The house is great. yes. but couldnt you get something similar in Columbia Heights for around the same price? This house is like 1 block from rosedale where you can get a fixer upper for 150k. Not near transit. Calling it Cap Hill is a stretch. The house is A+ but does the buyer who can afford 625 really want to wait around a decade for NE to blossom? Hstreet still seems like a speculators market at this point. CH might not be the sexiest neighborhood either but it is in close proximity to U street MTP. Rock Creek Park. This is near trinidad/rosedale/RFK…

    • Prices are where they are because:

      1) People are willing to pay those prices
      2) The market will bear those prices
      3) Banks will finance those prices

      This is the hottest area in DC right now for development, new bars, new restaurants, the street cars. It’s going to be one kick ass neighborhood, and people are jumping in while the getting is still good.

      • your points. 1-3. all remain to be seen. As it hasn’t sold yet. Also In the pics it looks like there is a garage in back but I just noticed it isnt theirs. This house has no parking. Crappy transit. and is in an up and coming hood. Ill be amazed if this goes over 600k. But then Ive been surprised in the past.

        • Exactly. People aren’t typically paying list price for houses these days in neighborhoods such as this one.

      • 1&3 are really just the same thing as #2. They are what make up #2.

      • ANd here we have a housing bubble summed up very succinctly. See, e.g., 2003-2005; H STreet Corridor.

    • Agree with the above.
      It does seem a lovely house.
      The price seems right for CH, not for this location.

      • No not MJ, my comment was meant to agree with Anon. at 1:43.
        Sorry for the massive confusion.

        • No problem. Nobody ever agrees with me anyway.

          • It’s not that I don’t agree with you it’s just that I had meant my comment for Anon at 1:43.
            Do I agree with you?
            1-3. Yes.
            I don’t know that this is the hottest area in town.

    • It’s a big stretch to say you could find “fixer upper” in Rosedale for $150K, and if you did it would likely be a two bedroom with few architectural flourishes and no yard. Maybe a foreclosure, but that’s a whole ‘nother ball of wax.

  • Great house, probably 25 to 50k over priced. Area is hardly a decade away, the streetcars will be operating in 2012 and the number of bars/restaurants seems to increase every few weeks.

  • Really great house, but only three bedrooms and two baths. That fact might make the house a tad overpriced.

  • Guys, it’s because Capitol Hill area south of H street is simply much nicer than Columbia Heights. As an objective observer who resides in neither area, I’d take Cap Hill extended any day. It’s just a friendlier, more cohesive place. Columbia Heights has a bad edge to it, and probably will for the foreseeable future. I’d much rather live in Petworth than Columbia Heights for that matter.

    • For you, for you, for you.

    • Really? You would take this house over a nice one off of 11th Street? Where you would be walking/biking distance to everything in NW and on the green line? I share your view on Petworth though which I think once Donetlli throws up another couple buildings, and city vista two gets going, and Billy Simpsons opens, Georgia will eventually have everything that Hstreet will. Street Cars included. But it will also have a metro and be closer to other desirable neighborhoods.

      • In a heartbeat, I would never want to live in Columbia Hgts. But I get that it’s a personal preference. (for the record, I probably wouldn’t want to live at this location either – a little too far east, and parking sucks on weekends b/c it’s so close to H Street, but my friend lives right next door to this house, and it’s a quiet little block – just not for me; but if I had to choose between this and anywhere in Columbia Heights, I’d choose this place.)

        • So you live where you live because you want to. I don’t live where I don’t live because I don’t want to.

          • Exactly. That’s the point. anon didn’t seem to understand why someone would live here as opposed to Columbia Hgts. That’s a stupid question. People want to live where they want to live.

          • Dear god. For the last time. I dont know why someone would live there for the SAME PRICE. You see that little detail makes all the difference.

          • No, it doesn’t make any difference. It doesn’t matter what the price is if I don’t want to live there. If this house was a 100K more expensive and my only other choice was a free house in Columbia Hgts, I’d still choose this house because I prefer the neighborhood. That’s the point you’re missing. Some neighborhoods appeal to some people while others do not, it doesn’t matter what the price is. That’s what I’m saying – that it’s ridiculous to say, “But you could get a house in x other neighborhood” – it doesn’t matter if I want to live in THIS neighborhood.

          • Wow you are some kind of idiot. You see. I like Hstreet more than I like Gtown. BUT. that doesnt mean I am going to pay gtown prices to live there. You see? Even though I like it more I expect to pay the going rate. So if your choice is between a free house in a richer neighborhood you dont like. And an over priced house in one you do. I would advise you to take the free one. Sell it. And then buy 2 houses in the neighborhood you like. But that’s just me. You can go ahead and do it your way. lol

        • You question, anon, was “Really? You would take this house over a nice one off of 11th Street? Where you would be walking/biking distance to everything in NW and on the green line?” and my answer is an unequivocal yes – and yes, for the same price. The bottom line is that this house isn’t that overpriced for the area.

          But, I’m done with this. I don’t need to worry about it, because I’m perfectly happy where I live on Capitol Hill, so don’t much need to worry about real estate prices near H Street or in Columbia Heights.

          • And my point remains you can absolutely prefer to live on Hstreet vs 11th street. But if the houses are identical and the same price you are fool to pay it for Hstreet. Because regardless of whether or not you like it. CH commands a higher price. You can choose to live there but should expect to pay a lower price. That is all. Just as I would prefer to live in MTP than Gtown. But would not pay Gtown prices to do so. That would make me a fool.

    • Totally agree. CH is scary. I moved just north of there because I keep hearing of all the crime in CH.

  • I also live in none of the areas mentioned so I don’t have a stake in the debate, but Columbia Heights is great for some and not so great for others.

    The statement: “Yeah. I’m confused. The house is great. yes. but couldn’t you get something similar in Columbia Heights for around the same price?” Is so narrow-minded and self-centered in thought.

    There is no difference in a Col. Heights residents making that comment and a G’town resident saying the same about Col. Heights. It’s obnoxious…

    With that logic, why live in Washington DC altogether? Take you 600k and by a mega mansion in Charlotte, NC.

    Oh, right…not everyone wants to live in Charlotte.

    • huh? For starts you can’t get a house in Gtown for what you could in CH. Which was the entire point of my comment. That Hstreet isn’t yet in the same price point as CH and yet here this house is charging what seems to be CH prices. Get it? If there was a house in CH going for 3 million dollars you bet I would say “Aren’t those Gtown prices”. You see some neighborhoods are in higher price points. And if you can get the same house in a neighborhood with a higher price point… Oy Vey. Why am I even bothering. and what on earth does charlotte nc have to do with anything.

    • Your argument assumes all things being equal.
      They are not.
      Simply stated Columbia Heights is head and shoulders above this fringy area not far from Capitol Hill.
      Maybe some day this will be different.
      Maybe some day this area will outshine Knightsbridge in London or Sutton Place in New York.
      Today, it does not.
      Nor does Charlotte.

    • See K’s response below.

      My point is that it is apples and oranges comparing the two n’hoods.

  • anon. gardener

    Re: crappy transit links – Walk across the street and catch any of the frequent buses on Maryland Ave and in 3 minutes you’re at Union Station. In fact, Union Station is a very short walk away. I used to live in the area, around 15th and D, loved it, and had better transit links than I do now in Petworth. Maryland Avenue is really nice. I really don’t think you can knock the neighborhood too much.

  • For someone who lives down the street from this house….this is the going rate for a nice house in this area of NE. If it were a fixer upper….then yes its over priced. But it’s not.

    Why are we comparing Columbia Heights to the Capital Hill/ H St area? Their Apples and Oranges. People who like Col. Hgts like it for a very specific set of reasons. For people who like the Atlas District they like it for specific reasons. I like Col. Hgts but don’t want to live their. I do happen to Love the H St/ Capital Hill area. It’s personal preference.

    And for anyone saying, “noone who can afford 600K will buy in this hood”…..check out all the other people paying $500-$700K to live in the area. It’s a nice neighborhood…people like it…it’s no better or no worse then Col. Hgts. It’s just different.

  • My husband and I live in this neighborhood. He works on Capital Hill and I work in NoMa. For us this is a great neighborhood and we can walk to work. We don’t wont to live in Columbia Heights because its a long trek for us to get to work/ friends/ our favorite restaurants and parks. The people who choose to live in the Atlas District/ H Street/ NE do so for many of these reasons. Col. Heights is great but it doesn’t make sense for us. Lets not get bogged down in comparing the two neighborhoods. People who can afford to pay 600K for a house are going to pick the one that works best for them.

  • Now that Vince Gray has finally killed the street cars, I suspect that H Street’s rapid improvement will slow down.

    • Vince Gray has not killed the street cars — that involves much farther out. The street car battle has been had and the budgeted is spent on them.

      Meanwhile, streetcars are not the only thing fueling H Street’s growth. It is about critical mass, and H Street has tons of restaurants and nightclubs that are attracting lots of people, despite no streetcars (and despite the construction going on for the streetcars!).

  • If the price seems high, buy north of H St instead of south and you could probably knock $200,000 off the price and still live in the same neighborhood. Sometimes these location differences are really arbitrary.

    • I do think it gets a lot sketchier when you go just a few blocks north, but I agree that properties are a lot cheaper on that side of H Street.

  • People are attracted to different neighborhoods for different reasons, it’s all very subjective. The fact of the matter is that area comps should be consistent with the asking price for a house within that area. And this house is competitively priced for its location.

  • I’ve been searching for houses on the hill, south of H Street, for about a year now. This is appropriately priced. Maybe $25-50k over like someone said.

    Personally, I wouldn’t buy a house like this in CH, even if it were half the price, simply because that area does not suit my wants and needs. It’s silly to compare two neighborhoods that are so different.

  • I don’t see how CH is any nicer than H street. They’re both overpriced.

  • anon. gardener

    In this neighborhood, you can walk to the Mall, walk to the capitol bldg, walk to eastern mkt and the restaurants down there. If you want to get out of the city, it’s a snap. One of the few things about living in Petworth that I find annoying is that there is no quick and easy way to get out of the city. The people who are slamming this neighborhood need to leave THEIR neighborhoods occasionally – I think you might be surprised at what other parts of the city have to offer.

  • I live literally around the corner from this (basement rental). 15-20 minute bike ride to the Mall. 2 minute walk to H St with buses round the clock and the H St Shuttle to Chinatown in the evenings. Right off Maryland Ave for it’s buses and right by Florida Ave for it’s buses to U St. 20-30 minute walk to both Union Station and Eastern Market. It’s not at all difficult to get anywhere in the city. Street parking is no big deal unless you’re coming in late at night when you might end up parking a block or two away. The immediate neighborhood is a mix of families and young professionals renting. I can’t speak to costs, but really there aren’t any major downsides to the area other than individual preferences to live somewhere else in the city.

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